Its shares dropped by more than 5% accordingly in Tuesday trading (August 30th), underperforming peers that are largely positioned to open in the green after a violent two-day market rout in response to Fed Chair Jerome Powell’s latest reiteration of the central bank’s hawkish policy stance. (LCID) announced an $8 billion universal shelf prospectus filing on Monday (August 29th) after market close.
#LUCID STOCK PRICE REGISTRATION#
The following analysis will address two primary concerns stemming from the $8-billion shelf registration - liquidity and share dilution risks - and discuss their impacts on the stock's valuation prospects. The EV company stock's latest selloff reflects investors' concerns over Lucid's latest decision to file a universal shelf prospectus that permits fundraising of up to $8 billion from public markets.
Lucid shares tumbled in Tuesday trading while peers staged a recovery from the two-day market selloff after Fed Chair Powell's hawkish commentary at the Jackson Hole symposium Friday. As a result of the news, Chipotle’s shares fell about 2% as well.īed Bath & Beyond – Shares of Bed Bath & Beyond slipped 4.8% on Wednesday as investors await the announcement of the retailer’s turnaround plan, which is set to be released on Wednesday.Īccording to Morgan Stanley, the next steps for the stock will depend on what happens with the update.Lucid's $8 Billion Shelf Filing - Should You Be Concerned? It is expected that the panel would be able to raise the minimum wage to $22 per hour by 2023 if it so chooses. Jack in the Box – Fast-food chain Jack in the Box – Shares of the fast-food chain dropped as much as 9% after the California state legislature passed a bill that would create a statewide panel to regulate wages for workers in the industry. The company did also announce that iQiyi, a subsidiary of Baidu, is selling $500 million of convertible debt to an investment firm called PAG Asia as part of the transaction. On both the S&P 500 and the Dow, the sector led declines in both indices.īaidu – In the second quarter, Baidu’s shares fell by 8%, despite the fact that the Chinese tech giant exceeded analysts’ expectations both on the top and bottom lines.ĭespite the company beating analysts’ estimates by a large margin, the company’s revenue was down year over year. There was a drop of more than 3% in Chevron’s stock price.
In the last few days, the shares of Marathon Oil, Halliburton, and Diamondback Energy have all fallen by about 5%. Oil companies – Stock prices of oil companies tumbled Tuesday along with the price of the commodity itself. On Tuesday, Nikola announced that it plans to issue up to $400 million of new shares at market prices as part of its IPO.
Over the next three years, Lucid plans to issue $8 billion worth of new stock, according to a filing the company made on Monday. Nikola, Lucid – The shares of electric vehicle makers Lucid and Nikola fell 6% and 9% respectively this week after both companies announced this week that they were going to raise additional funds for the company. Big Lots, Best Buy, Nikola, And Lucid Make The Biggest Moves At Midday This was due to tax incentives from the Inflation Reduction Act, which led to an additional $185 million investment. The company announced on Tuesday that it would invest up to $1 billion in building a new manufacturing facility for solar panels in the United States as part of a $1 billion investment.Īddition to an additional $185 million upgrade, as well as an additional $185 million improvement to existing facilities, were the key catalysts for the company’s decision, according to its CEO. There was also a beat on revenue, and despite a 9.2% decline in comparable store sales over the previous year, the company beat analysts’ expectations of a larger decline.īest Buy – In both its top and bottom line results, Best Buy beat Wall Street’s expectations before the bell Tuesday.Īfter Best Buy posted its results before the bell, the retailer’s shares gained 2.9%.įirst Solar – A 52-week high was reached by First Solar on Tuesday, and the company’s shares last traded at 0.4% higher than their previous close. Big Lots– The stock price of Big Lots increased 7.8% following the announcement that the discount retailer posted a smaller-than-expected loss for the most recent quarter.
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